Flushing-based property owner Eran Tourgeman has filed applications for a four-story, six-unit residential building at 225 Howard Avenue, in Ocean Hill, located three blocks from the Ralph Avenue stop on the C train. The structure will measure 4,704 square feet, which means its residential units should average 784 square feet apiece, indicative of rental apartments. There will be two units per floor on the ground through third floors. The fourth floor will host a single unit that also spans into the third floor. Pirooz Soltanizadeh’s Jamaica-based Royal Engineering is the applicant of record. The 25-foot-wide, 1,986-square-foot lot is currently vacant. The site’s predecessor was a three-story wood-framed house, and it was demolished in 2008.
Property owners Beacon Capital Partners and MetLife (the insurance company) are planning to execute a $25 million renovate on their 35-story, 533,695-square-foot multi-use commercial building at 575 Fifth Avenue, located on the corner of East 47th Street in Midtown. Planned is a redesigned lobby, new exterior and interior elements such as a building canopy, signage/advertising, and lighting, and new amenities such as a 6,000-square-foot conference center and a lounge, Real Estate Weekly reports. The 360,000-square-foot office portion already connects to the building’s three stories of retail and restaurants via an atrium. Barneys New York recently signed on to 72,000 square feet at the tower, and Westpac Banking Corporation and Northwood Investors each have leased 15,000 square feet. The building was developed in 1983.
This morning, we had hotel news for you. Now, we have more. In April, Lightstone Group acquired, for $127 million, a six-building, 181-unit residential portfolio for that comprises of 112-120 East 11th Street and 85 East 10th Street, in the East Village. The developer is currently planning to build a 85,000-square-foot, roughly 300-key boutique hotel at 112-120 East 11th Street, according to The Real Deal. Marriott International’s MOXY Hotels will be the operator. The five-story buildings at 112-120 East 11th Street currently contain 75 residential units across five buildings and are expected to be demolished. The other six-story, 106-unit building at 85 East 10th Street will remain and is expected to be sold off. The April acquisition was financed with an $85 million loan. The five apartment buildings at 112-120 East 11th Street represented $52.1 million, while the six story property at 85 East 10th Street traded for $75.4 million.
Over the past few years, new building applications have been filed and construction even started on a residential portion of the five-tower, 3.3-million-square-foot mixed-use Domino Sugar Refinery mega-development in Williamsburg, located immediately north of the Williamsburg Bridge. Now, new details and renderings have been revealed of the lesser-known office component of the project, the New York Post reported. The office portion will be anchored in the existing 11-story Havemeyers & Elder Filter, Pan & Finishing House, also known as the Domino Sugar Refinery, at 292-314 Kent Avenue, which is an individual landmark.
It was in January that YIMBY last brought you an update on the eight-story, 106-unit residential project under construction at 608 Franklin Avenue (a.k.a. 1036 Dean Street), in northwestern Crown Heights, located five blocks from the Franklin Avenue stop on the C train and Franklin Avenue Shuttle. At the time, the structure was four stories above street level, but it has since topped out and is now receiving its windows, as seen in a photo by Tectonic. The structure will measure 125,350 square feet and its residential units should average 693 square feet apiece. Rental apartments are in the works, and configurations will include studios, one-bedrooms, and two-bedrooms. Twenty-four of the apartments will rent at below-market rates through the housing lottery. Amenities include a 56-car parking garage on the cellar and ground floors, storage for 63 bikes, a lounge, a fitness center, an common outdoor area on the second floor, and a rooftop terrace. Yoel Goldman’s Brooklyn GC is the developer, with ODA New York is behind the design. Occupancy can probably be expected by the end of the year.